Johannesburg, South Africa — MININGREVIEW.COM — 03 December 2010 – Gold Fields Limited “’ the world’s fourth-largest listed gold producer “’ has announced an R8 million, three-year investment in the mining engineering faculty of the University of Johannesburg.
The sponsorship aims to forge an alliance between Gold Fields and the university to promote the study of mining engineering and technology, core skills required to sustain not only the company itself but the local mining industry as a collective.
The announcement comes amid a renewed sense of urgency among industry and government to address the lack of high level, scarce skills in the country. The slow supply of graduates is compounded by the departure of established mining engineers and senior technical staff due to emigration and retirement.
Gold Fields CEO Nick Holland said: “The industry is currently facing a skills gap crisis. The partnership with the University of Johannesburg will help ensure that we create a pipeline of qualified graduates who can benefit Gold Fields and the industry in general.”
Professor Ihron Rensburg, vice-chancellor of the University of Johannesburg added: “This partnership provides a meaningful learning experience to the nation’s brightest young minds. It is encouraging to see Gold Fields forge partnerships that contribute to the development of the industry it operates in.”
In terms of the sponsorship agreement, the university will receive a once off capital injection of R2 million followed by R2 million a year for three years. In return Gold Fields is afforded naming right status for the infrastructure that it sponsors “’ including a new mining laboratory “’ as well as participation in the mining faculty’s advisory committee.
The sponsorship is in addition to a range of other educational initiatives undertaken by Gold Fields. Last year the company spent around R165 million on education in South Africa.